In the two months since the introduction of restrictions on card-to-card transfers, the volume of transactions between individuals' accounts in the same bank has decreased by nearly 5.1 billion hryvnias. The volume of transfers between different banks has fallen by almost 5.6 billion hryvnias.
This was reported to Forbes by the National Bank.
The transfer limit tied to clients' incomes: the NBU explained what was meantThe NBU clarified the meaning of Dmitry Oleynik's statement regarding the transfer limit linked to the level of verified client income.“Overall, there is a trend toward a decrease in volumes (of potential 'drop schemes' – Forbes) by almost 4.5 billion UAH and their partial shift to SEP payments (the electronic payment system controlled by the NBU),” the National Bank informed the publication.
However, to fully understand the impact of the restrictions, more time is needed, the regulator added.
The NBU also reported that after the implementation of the restrictions, 'drop schemes' have at least doubled in cost: “Organizers need to find and attract more participants willing to provide access to their accounts.”
Additionally, during the period of the restrictions, the Bureau of Economic Security has already identified risky operations exceeding 1.2 billion hryvnias, reported Deputy Director of the BEB Andriy Pashchuk.
Let us remind you that starting from October 1, a limit of 150 thousand hryvnias per month for transfers between individuals 'from card to card' (also known as P2P, C2C) came into effect. The restrictions will remain in place for six months.
As of September 10, the National Bank also imposed certain restrictions on the use of foreign currency cards abroad.